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COMPUMEDICS LIMITED — Capital/Financing Update 2016
Sep 22, 2016
64672_rns_2016-09-22_092ee071-55dd-4eee-b5da-5cce538798c9.pdf
Capital/Financing Update
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Company Announcement
Successful Completion of $6.5m Capital Raising
23 September 2016
Compumedics Limited (ASX: CMP) ( “Compumedics” and “Company” ) – an international leader in medical devices for sleep, brain and ultrasonic blood-flow monitoring – is pleased to announce that it has successfully completed a $6.5m placement, which was announced to market on 21 September 2016.
The placement comprised the issue of $4.5m of new shares in the Company and a $2.0m sell down of existing shares in Compumedics.
The placement was undertaken at $0.54 per share (3.0% discount to the VWAP immediately prior to the trading halt) and within the Company’s 15% placement capacity in accordance with ASX Listing Rule 7.1.
Dr David Burton, Executive Chairman of Compumedics, said:
“We are very pleased with the level and quality of support shown for the Company by this capital raising, which closed significantly oversubscribed.
“We are also very grateful to our long-term supporting shareholders and are delighted to welcome our new institutional shareholders onto our share register.
“This placement strengthens our balance sheet, providing greater flexibility to pursue the commercialisation of the current opportunities identified by Compumedics, whilst the sell-down assists to improve the liquidity of the Company’s tradable securities.”
PAC Partners served as sole lead managers for the capital raising.
About Compumedics Limited
Compumedics Limited [ASX: CMP] is a medical device company involved in the development, manufacture and commercialisation of diagnostics technology for the sleep, brain and ultrasonic blood-flow monitoring applications. The company owns US based Neuroscan and Germany based DWL Elektronishe GmbH. In conjunction with these two subsidiaries, Compumedics has a broad international reach, including the Americas, Australia and Asia Pacific, Europe and the Middle East.
Executive Chairman Dr David Burton founded Compumedics in 1987. In the same year the company successfully designed and installed the first Australian, fully computerised sleep clinic at Epworth Hospital in Melbourne. Following this early success, Compumedics focused on the development of products that sold into the growing international sleep clinic and home monitoring markets.
Compumedics listed on the Australian Securities Exchange in 2000. Over the years, Compumedics has received numerous awards, including Australia’s Exporter of the Year, and has been recognised as a Top 100 Innovator by both German and Australian governments.
For further information please contact:
Dr David Burton Executive Chairman, CEO Executive Director Phone: + 61 3 8420 7300 Fax: +61 3 8420 7399
David Lawson Director and Chief Financial Officer Phone: + 61 3 8420 7300 Fax: +61 3 8420 7399
Investor Relations, Media & PR enquires:
Rod North Managing Director Bourse Communications Pty Ltd Phone: +61 3 9510 8309 Mobile: +61 408 670 706
Richard Allen Oxygen Financial PR Ph: + 61 3 9915 6341 Mob: +61 403 493 049